Qelbree, a drug developed by Supernus Pharmaceuticals, Inc. (SUPN), recently received FDA approval. Consequently, SUPN shares traded at 30.11 USD on April 5th for a gain of 12.7%.
Qelbree is specifically approved to treat attention deficit hyperactivity disorder in patients between the ages of 6 and 17 years. Despite its high prevalence, this diagnosis holds excellent commercial potential. The ADHD symptoms include hyperactivity, difficulty concentrating, impulsivity, and difficulties managing daily tasks. Children with ADHD account for more than 6 million people in the United States solely.
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Supernus has made remarkable efforts to secure approval. They have conducted four phases III clinical studies involving thousands of patients. In November 2020, the FDA rejected Qelbree’s first FDA application, which caused SUPN share prices to plummet. A new application for the drug was filed in February 2021, as more research was required to prove it was safe. Eventually, the drug was approved by regulators, allowing Qelbree to begin commercializing the drug.
The SUPN stock is also investigating the treatment of adult patients with Qelbree in Phase III clinical trials. Preliminary test results are positive, and the SUPN stock plans to apply for FDA approval in late 2021.
Shares of SUPN closed the last session at $30.11, increasing 12.69% or $3.39. The stock fluctuated between $28.50 and $30.13 throughout the day. There were 2.55 million shares exchanged, more than its 50-day average daily volume of 0.59 million and more than its Year-to-date average daily volume of 0.6 million. The stock has advanced 76.18% in the past year, and it has increased 14.79% in the last week. Over the last three months, the stock has increased by 19.67%. Over the previous six months, the stock has increased by 40.31%. Stock returns in the last year have been 19.67%, and the price-to-earnings ratio is now 12.74.